Agent IBK Capital helps sell 10 million units with two-year warrants
By Devika Patel
Knoxville, Tenn., Jan. 25 - OroAndes Resource Corp. said it plans a private placement of units through agent IBK Capital Corp. The deal will raise C$2 million.
The company will sell 10 million units at C$0.20 apiece. Each unit consists of one common share and a warrant. Each two-year warrant is exercisable at C$0.25, a 25% premium to the Jan. 24 closing share price of C$0.20.
Based in Vancouver, B.C., OroAndes explores for gold.
| Issuer: | OroAndes Resource Corp.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$2 million
|
| Units: | 10 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | IBK Capital Corp.
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| Pricing date: | Jan. 25
|
| Stock symbol: | TSX Venture: OAR
|
| Stock price: | C$0.20 at close Jan. 24
|
| Market capitalization: | C$5.83 million
|
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